Get Out Of Debt - See The World!

If I could just get out of debt, then I could travel and see the world. Maybe you have a mantra similar to this, leading to what you really would like to do in life, but are stuck in a rut of debt payments. Many people are in the same situation and feel there is not real answer. But, that is not really true…there are options.  Get out of credit card debt first. This type of debt is the most insidious because the interest rates are so high and the allure to accumulate more so great. There a couple of ways to deal with this problem depending on your situation.



If you are current on your payments you can do a systematic approach to working through them. Simply organize your credit card debts by highest to lowest interest rate. Note the minimum payments on each. Then focus all your attention on paying off the highest rate card, while paying the minimum payment required on the others. The boost you will get from seeing the progress will spur you on. The other method you can use works better if you are behind on your payments. In this case you need to understand that after six months of no payment, banks sell these accounts to collection agencies for pennies on the dollar.



At that point you can take the money you have been saving by not making the payments and negotiate a lump sum or payment settlement for a fraction of the original balance. Again, this is only if you are behind already. Re-think your transportation. A new car is a great treat to oneself, but the fact is it is a money pit in terms of the losing its value. By sticking with 4 plus year old cars you can eliminate much of the depreciation, and still have reliable transportation. Check out eBay Motors for some unbelievable deals on used cars.



Adjust your housing to better meet your realistic needs. If you have a large mortgage reconsider if this is really a smart move in this economy. At one point putting money into your house made all the sense in the world…now it is debatable at best since prices are falling. If you did not get your house at a bargain price you are fighting an uphill battle that is going to take a long time to win.  In the final analysis, if you can get out of debt, your options to do the meaningful things in life increase geometrically.



There are always choices and options, so give look around at what you can accomplish just by making some basic changes. Â For more details: www.surfthestorm.com

U.S. Bank Offers Auto Dealers Free Online Access To Wholesale Floorplan Loan Information

ATLANTA, GA May 21, 2004 -โ€" U.S. Bank (NYSE:USB), a leading global financial services firm, today announced a major application deployment in its automotive wholesale floorplan division. U.S. Bank signed with DataScan Technologies, LLC to implement the Wholesale Management System (WMS) and the Dealer Access System (DAS), the Internet-based technology for secure dealer access to floorplan loan information. DataScan will host the systems in its secured headquarters in Alpharetta, Georgia via its Application Service Provider (ASP) Solution.



DAS is the first application of its kind in the industry offering online wholesale floorplan functionality for the dealer population with access via the Internet. U.S. Bank's auto dealers will have instant access to request funding for new loans, make payments, print reports and billing statements, and inquire about other floorplan loan information.







โ€œWe're excited about being able to offer our dealers DAS,โ€ said Mike Rogers, manager of Dealer Commercial Services, U.S. Bank.



โ€œNot only will it strengthen our relationship with our dealer body, but it will streamline productivity and save us thousands of manual-entry hours a year.โ€







Tom Martin, president and CEO of DataScan Technologies added, โ€œU.S. Bank has been a valued client using our Nationwide Audit Services since 1994. By expanding our relationship and deploying our products via our ASP model, U.S. Bank will step ahead of its lending competition by offering dealers this competitive edge.



โ€







U.S. Bank will go live in August 2004.







About U.S. Bank



U.S. Bancorp (NYSE:USB), with assets of $192 billion, is the 7th largest financial services holding company in the United States. The company operates 2,275 banking offices and 4,472 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp is home of the Five Star Service Guarantee which assures customers of certain key banking benefits and services or customers will be paid for their inconvenience.



U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at usbank.com.







About DataScan Technologies



DataScan Technologies is headquartered in Alpharetta, Georgia and is a pioneer in Wholesale Finance and Accounting Systems and Risk Management Services since 1989, specializing in Floorplan Solutions. DataScan strives to revolutionize the way banks and captive financial institutions manage their collateral, allowing them to work more effectively with quick, secure Internet access.



DataScan's first-to-market dealership Internet solution for wholesale financial institutions offers closer electronic communications between the lender and the dealer. DataScan also offers professional floorplan field audit services throughout the U.S. with Nationwide Audit Services (NAS). DataScan Technologies can be found on the Internet at datascantech.com.







Contact: Matt Powell



DataScan Technologies Media Relations



(800) 767-7226



info@datascantech.com

Building A Fixer Upper Home Business

Building a business focused specifically on fixing up homes to make a profit can be done fairly easily if you understand the right core steps. Not only is it an interesting business, but such a venture can be quite profitable as well. When you know how to locate and purchase the right types of homes for a relatively low cost - and without using much of your own money - you are well on your way to building a business that can reap significant rewards as an owner.



Before you start your business, there are a few basics with which you need to become familiar.



These include learning what a "fixer upper" is in the first place. It's a real estate term that means a home is in distress in some way. Consequently, the buyer needs to renovate or fix it up to maximize the profit when the intent is to resell. Once you buy the home - usually at a reduced cost because of some degree of deterioration - you will have a limited amount of time to fix it up for maximum profit.



Your first objective should be to set a realistic time frame to fix up the home. If when beginning you buy more than one home at the same time and think you will fix them up in only a month or so, you will be deluding yourself concerning what the complexity and wisdom required to most efficiently utilize your limited resources.



A profit is possible if you aren't spending a huge amount of money on monthly mortgages.



Often, homes take much more time to repair than you may naturally think, so by starting with a realistic time frame in mind, you have an advantage. This preparation includes setting a capable goal for the amount of earnings you may realize during your first year in business. If you over-buy in your first year, you will likely find yourself with much more debt than anticipated. Such an oversight can lead to decreased sales because you no longer have the funds to continue ongoing renovations.



By starting slowly, you can build up your profits before attempting to tackle more homes that you may not be able to afford.



A large percentage of this business includes learning which homes you should sell immediately upon renovating, as well as which houses you should hang onto for an extended period of time. If you buy a home that you can easily determine will earn a large profit by renting it out, then consider doing so. When owning rental properties, you may be able to earn even more money because the monthly income you realize from rentals is hopefully sufficient to cover your monthly loan installments and allow for the building of equity in the property over time.



That way, you retain the profit you make over the loan amount either to invest in other properties or simply tuck away for later use.



Building a fixer upper business certainly comes with inherent risks. This investment entails the exchange of a great deal of money. Making an assumption that purchased property can be sold again at a higher price also is a significant risk. The real estate market changes, and you could reach a point where your selling options are limited, possibly resulting in an expensive financial burden for many months before you locate a buyer.



For some investors, the risk might simply be too great. However if you are comfortable with the risks and have some experience in picking out the "right" homes, you could find yourself in a very profitable venture.

How To Obtain The Best Offset Mortgage

This article will briefly discuss what an offset mortgage is; and how an independent mortgage advisor can help you buy the best offset mortgage.



An offset mortgage links your main current account and/or savings accounts to your mortgage. Every day or month, the amount owed on your mortgage is reduced by the amount in these accounts, before the interest is calculated on the loan. When the money in your savings/current account increases, you pay less on your mortgage.



If the money in your savings/current account decreases, you pay more on your mortgage.



When it comes to finding the best offset mortgage, it pays to have expert advice because there is more to a mortgage deal than meets the eye. Your mortgage will probably be the largest financial commitment in your life, and it pays to take time to look at the different options available to you.



There are different types of offset mortgages available on the market.



You could look at 'best buy mortgage tables' to find the best offset mortgage, but that only gives you superficial information. It doesn't show you the mortgage's flexibility; i.e. the ability to underpay, take payment holidays, or overpay, or what the fees and charges are. In the last couple of years, fees for mortgages have increased. Fees can be in excess of ฃ1000, and several mortgage providers are now charging fees as a percentage of the sum being borrowed, for example: a 2% fee on someone borrowing ฃ120,000 on a new low two-year fixed rate deal would pay ฃ2,400.



Once fees are taken into account, the best offset mortgage deal may not be the one with the lowest interest rate.



Recent research has shown that the best offset mortgage is not necessarily offered by the top 10 biggest mortgage lenders. The top 10 mortgage lenders offered only 11% of the best 250 mortgage deals available on the market, despite the top 10 having more than a 60% share of the mortgage market.



To guide you through this myriad amount of information available, an independent mortgage broker will give you impartial advice about the best offset mortgage, as they have comprehensive knowledge of the mortgage market. A mortgage broker is fully authorized by the Financial Services Authority (FSA) and they have the necessary qualifications to advise you.



Your mortgage broker will perform a 'factfind' to learn about your financial situation and circumstances, and your wants and needs.



Your broker will assess your ability to repay the mortgage, your credit history and credit scoring profile. Offset mortgages are usually calculated on an affordability basis and not on a simple income multiplier, which allows people with ad hoc financial income, such as a self-employed person, to possibly obtain a larger mortgage than with a standard, more traditional mortgage. All of the information you provide will help your broker obtain the best offset mortgage available for you on the market.



After the best offset mortgage has been sourced for you, your independent mortgage broker will provide you with written details about the mortgage, which will include:



- How much you want to borrow

- The type of offset mortgage you're interested in

- A description of the mortgage; who the lender is and the interest rate

- Overall cost of the mortgage including the fees

- How much your payment would be if the interest rates increased

- The flexibility of your offset mortgage



An independent mortgage adviser will answer any questions you have and ensure you have all the necessary information about the mortgage market.



It is worth spending time with them, as they are there to help you find the best offset mortgage.Resources